Despite of market vouching for the potential of eCommerce, heavily backed by the rising base of smartphone users and internet penetration, the stark reality is that even by 2025, eRetail will contribute to a mere 8 per cent of the total retail in India.
Speaking at the Indian Retail & eRetail Congress 2016 Atul Chaturvedi, Joint Secretary, DIPP said the retail industry will prove to be a huge growth driver for the warehousing as well as manufacturing scenario.
CAIT has reached to the DIPP post an advertisement in newspapers announcing the sale of an item together with its discounted price to be available on Flipkart's portal which is said to be a marketplace.
Marketplaces, if run in the right spirit, could complement retailers by acting like online malls. Retailers would be happy to collaborate with them in the same way as they have collaborated with malls so far.
As certain gaps were found in the initial proposal Apple, a world renowned brand known as maker of popular iPad and iPhone devices, has been requested to submit a fresh application for opening single brand retail stores in the country.
Pepe Jeans India has recently applied to the Department of Industrial Policy & Promotion (DIPP) to set up fully-owned retail stores in the country. The company aims to open large format retail outlets in metro cities of the country.
E-commerce market is likely to grow ten-fold in next five years to reach USD 100 billion on the back of increasing penetration of Internet, smartphones and spread of digital network in rural areas, says a study.
Amitabh Kant, secretary, department of industrial policy & promotion (DIPP) emphasised the need for a single retail policy to weed out what retailers termed an 'inordinate attention to a single channel of distribution, notably, eCommerce."